Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

I am talking to Deputy Kelly. Deputy Carthy is not a leader yet. He should let me talk to Deputy Kelly. We have to engage with the social partners as well and work our way through this, and take further measures, if required, at the appropriate time to deal with what is happening and what is likely to happen for the remainder of 2022. However, we must do so in a way that does not just add fuel to the inflationary cycle, which is in no one's interest and would only result in putting people through more hardship.

Initially the ECB was of a view that this international increase in inflation was temporary. I always said we would have to keep that under review. It seems to me it could be a bit longer than we might have anticipated. We are going to have to adjust, as we have adjusted so far in terms of budgetary policy.

But we need to think our way through this in an intelligent way and not just reduce it to a sort of political sparring for the sake of it.

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